Rapid Transition of Railway Systems towards Automation Fuelling Radar & LiDAR Technology Market Demand: Future Market Insights Study
DUBAI, UAE, May 31, 2021 /PRNewswire/ — The global Radar & LiDAR technology for railways application market is expected to grow at 9.6% CAGR between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI).
Radar & LiDAR technology is gaining traction in railway and transportation sector as a part of train protection and collision prevention system. Increasing demand for radar and LiDAR sensors in smart railway systems will inflate the market growth.
Recent developments in technology used to control train traffic, track train routing and scheduling, and detect on-track pedestrian will support the radar & LiDAR technology for railways application growth.
Increasing government investment towards designing autonomous railway system especially in emerging economies and surge in demand for radar sensors will emerge as market drivers. Some of the leading companies are launching advanced LiDAR systems to offer higher resolution and improved accuracy. These attributes are considered extremely critical for tracking railway speed.
Mobile LiDAR equipments are capable of high speed mapping of rail corridors with rate of 1.1 Mn per second. This equipment is installed on a vehicle or train locomotive. As the vehicle moves the LiDAR perfectly maps the tracks and surrounding area.
Incorporation of mobile LiDAR equipment in railways infrastructure project planning and development, along with construction, operations, maintenance, safety, and asset management will accelerate the market growth.
“Companies operating in the market are launching advanced solutions to improve rail collision prevention mechanism. Their efforts will elevate the market demand,” says the FMI analyst
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- The global radar & LiDAR technology for railways application market is forecast to reach the valuation of US$ 4.98 Bn by the end of assessment period
- The U.S. radar & LiDAR technology for railways application market is anticipated to grow at 10.4% CAGR throughout the forecast period. Increasing government funding towards improving productivity will aid overall expansion.
- Rapid adoption of technology for producing digital railways system and increasing government initiatives towards developing high speed rail network will have positive influence on the U.K. radar & LiDAR technology for railways application market growth.
- China has been working extensively towards developing its railway infrastructure. With increasing research and development initiatives undertaken for digitization of railway system, impressive growth is on card for the China radar & LiDAR technology for railways application market.
- Integration of cloud based traffic planning solutions with railways and track management system will fuel the market growth during the upcoming years.
- Increasing demand for safe protection system, reliable scheduling and tracking of trains along with their positioning has perpetuated the radar & LiDAR technology for railways application market demand.
According to the study by Future Market Insights, market leaders are employing various inorganic and organic marketing strategies to deepen their market penetration into emerging markets.
Growth strategies include new product development and product launches to strengthen their market position. They are also participating in strategic merger and acquisition to strengthen their footprint.
- A new LiDAR sensor was launched by Bosch in July 2020. The working of the sensor is to calculate the distance between target objects by illuminating them with laser light and measuring the reflected pulses. It is capable of detecting objects within 250m range and can recognize 24 objects simultaneously. It is incorporated in railways as a safety and monitoring system.
- PPC-10G (70/80 GHz), a wireless radio was inspected by ELVA-1in October 2020 for train-to-ground connectivity. The system is developed to solve the problem of providing high-speed trains with a broadband Internet connection on straight sections of the railway.
- Hupac Intermodal launched Train Radar, a device which provides real-time train running information in January 2020. It makes real-time tracking and accessing ETA information very comfortable. It gives fast and accurate information regarding the intermodal transport management.
Some of the leading companies operating in the market are:
- Radarxense BV
- Radar Vision
- Earth Radar Pty Ltd
- Bosch Mobility Solutions
- Navtech Radar
- DEUTA-WERKE GmbH
- Hupac Intermodal
- BlackBerry Limited
- Leica Geosystems AG
- Trimble Inc.
- RIEGL Laser Measurement Systems GMBH
- SICK AG
- Quantum Spatial
- Velodyne Lidar
- Phoenix LiDAR Systems
- IDS GeoRadar (Hexagon)
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More Insights on the Global Radar & LiDAR technology for railways application Market
Future Market Insights, in its new offering, provides an unbiased analysis of the radar & LiDAR technology for railways application market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the radar & LiDAR technology for railways application market with a detailed segmentation on the basis of various parameters. These include:
- Radar Technology
- Radar Sensor Modules
- Speed Measurement Radar Sensors
- Distance Measurement Radar Sensors
- Integration & Installation Services
- Support Services
- LiDAR Technology
- Mobile LiDAR Scanners
- Aerial LiDAR Drones
- On-board LiDAR Sensors
- LiDAR Processing & Mapping Software
- LiDAR Survey & Mapping Services
- Consulting Services
- Support Services
- Railway Track Faults Detection
- Rail Collision
- Pedestrian Detection
- Train Tracking & Control
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Key Questions Covered in the Report
- How will the market radar & LiDAR technology for railways application expand through 2031?
- Which top manufacturing companies are leading the global radar & LiDAR technology for railways application market?
- What are the key drivers and trends that will stimulate the radar & LiDAR technology for railways application sales?
- What are the challenges that will affect the sales of radar & LiDAR technology for railways application market?
- Which region will remain the most lucrative throughout the forecast period?
- What is the impact of COVID-19 on radar & LiDAR technology for railways application market?
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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